In the Short Run, at Least One Input Is Variable

question 221

True/False

In the short run, at least one input is variable and one input is fixed.

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Definitions:

Excise Tax

A tax on the sale or use of specific products or transactions.

Excise Tax

A tax levied on specific goods or activities, such as alcohol, tobacco, and gasoline, often intended to discourage their use or to raise revenue.

Sales Tax

A tax imposed by governments on the sale of goods and services, adding on to the purchase price paid by consumers.

Social Security Tax

A tax levied on both employers and employees to fund the Social Security program, which provides retirement, disability, and survivorship benefits.